Inflation and price level are topics mentioned in this section. Don't worry if you don't understand them yet, we will learn more about inflation on subtopic 3.2.
GDP and GNI values can be presented either as:
Nominal GDP and GNI may increase as a consequence of either:
Utilising real values accounts for these increase in the price level of an economy, allowing to truly measure the increase in the national output. This allows economists to make comparisons of economic activity over time.
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